Boise Real Estate Blog

Brighton Announces Cadence At The Village

February 20, 2019

Cadence At The Village Is Under Construction!

Image Credits: Brighton Corporation

There’s a big, new crane in the sky behind the Boise Co-Op, in The Village At Meridian.

No, it’s not a rare endangered bird!

It’s a huge construction crane that’s putting the pieces in place for Brighton Corporation’s newest rendition of their hugely-successful Cadence 55+ community concept.

Continuing on the success of Cadence At Paramount, Cadence At The Village will offer luxury apartments overlooking the spectacular Julius M. Kleiner Park.

The Village At Meridian, just a few steps away, offers restaurants, shopping, coffee shops, and the Village Cinema.

The Village At Meridian Information

This exciting, unique 55+ community will include 166 units, a secured parking garage, a 12,000 sq. ft. clubhouse, and two second-floor outdoor courtyards.

The southern courtyard will include an infinity pool overlooking Julius M. Kleiner Park.

Many of the units will offer breathtaking views of Julius M. Kleiner Park and the Boise Front Range.

Cadence At The Village is scheduled to be completed by December 2020.

Cadence At The Village Features

Daily continental breakfasts
Weekly happy hours
Onsite activities director coordinating complimentary:
Health and wellness programs
Education and cultural activities
Fun and recreational activities
Financial and legal services

Cadence At The Village Concierge Services (ala carte)

Valet trash collection
Handyman services
Package delivery services
Dry cleaning pick-up
Housekeeping

Stay tuned for more information on upcoming new Brighton Cadence communities!

Boise Homes For Sale: Our Spring Listing Inventory

February 18, 2019

Will we have enough Boise homes for sale this Spring?

Based upon our current listing inventory, combined with continued strong sales activity, we can expect a severe shortage of listing inventory this Spring.

Last year’s Spring market, with a greater number of listings, spawned multiple-offer bidding wars across the Boise real estate market.

We’re probably in for more of the same this year.

Current Available Listings

As of today, we have only 554 resale homes for sale in Ada County.

We also have 365 completed new homes available.

That totals 919 existing homes for sale in the Boise real estate market.

For buyers willing to wait for a home to be completed, we have 425 new homes under construction.

We also have 99 “To-Be-Built” homes, most of which will never be built.

Builders offer those homes to land “build jobs” without first starting construction.

We call those listings “phantom listing inventory”.

New Listings vs. Absorption

Our Ada County listing inventory is spread over 17 MLS areas and includes all price ranges.

It’s safe to assume that we’ll see additional listing inventory as we approach our Spring market.

That listing inventory will quickly be absorbed when more buyers emerge from hibernation in the next couple of months.

However, we’ve averaged 962 closed home sales per month in Ada County over the past 12 months.

With 919 existing homes for sale, we have less than one month’s supply of existing Boise homes for sale.

View All Boise Idaho Homes For Sale

When you factor in specific criteria for price, location, schools, floor plan, bedrooms, baths, garage size, commuting, and other criteria, most buyers will have one or two homes to seriously consider.

Serious buyers soon realize they aren’t the only ones interested in those homes.

To illustrate our scarce listing inventory, let’s assume you want a single-level home in SE Boise.

As of this writing, there are 12 available homes matching those criteria.

If you want that home to be under $300,000, you have only three homes to consider.

Here’s How I Work With Buyers

Looking to buy a home this Spring?

You’ll enjoy my consultative approach with buyers.
No sales talk, no pressure, and no closing questions.
I’ll fully inform you and you’ll make your own decisions.
I work with a few clients at a time to ensure a high level of responsive service.
Think of me as your personal real estate consultant!
My extensive experience as a licensed broker is your assurance of a good buying experience.
Give me a call at (208)938-5533 or e-mail me and let’s get started!

Boise Idaho Community Information

Tour of Boise Idaho Video

Boise River Greenbelt Video

Snake River Valley Wine Region Video

Boise Idaho Fall Color Video

Footnotes:

Data pertains to Ada County single-family homes on lot or acreage.
Data does not include condo, townhome, or mobile home properties.
Data extracted from Intermountain MLS on 2/17/19

What’s Your Meridian Idaho Home Worth?

February 15, 2019

A website can’t determine the value of your Meridian Idaho Home

Real Estate Portals

People love to visit real estate portals.

What’s not to love?

Some people (like you?) spend hours viewing tantalizing online “eye candy”, looking at dream homes and trying to figure out what their own home is worth.

Along with embellished photos and glowing descriptions, some of those portals offer estimates of value.

Those estimates of value are calculated by Automated Valuation Methods (aka AVM), generated by computer algorithms.

What could possibly go wrong with this concept?

Computerized Pricing Issues

In Idaho, those real estate portals rely upon assessor’s data, which can be as much as a year old.

If you’re a seller, how will you feel when you rely upon an inaccurate automated value to establish your asking price?

A computer sitting in a far away server farm will never understand:

The location of the home.
The neighborhood and surroundings.
The condition of the home.
Upgrades made to the home.
Undisclosed needed repairs.
The motivation of the seller.
Local market conditions.
Details of comparable sales.

How I Work With Sellers

Thinking of selling your home?

Our Spring market is the best time to sell your Meridian Idaho home!

Would you like to know what your home is really worth?

Give me a call at (208)938-5533 or e-mail me.

I will analyze your home’s value and personally explain actual MLS data with you!

View All Meridian Idaho Homes For Sale

Meridian Idaho Community Profile

View Tour of Meridian Video

Your Eagle Idaho Home Has Seven Values

February 13, 2019

Here’s Why Your Eagle Idaho Home Has Seven Values

You might be surprised to learn that your Eagle Idaho home has seven different values, including:

1) What You Think Your Home Is Worth

Just about every homeowner believes they have the nicest home in their respective neighborhood.

Your home is special and valuable to you because you’ve made it what it is.

Most sellers have a good idea of their home’s value.

2) What Buyers Think Your Home Is Worth

Buyers view your home differently than you do.

Buyers usually evaluate your home using (often questionable) information they’ve seen on the internet.

They may, or may not, know the market value of your home.

3) What The Appraiser Thinks Your Home Is Worth

An appraiser will value your home using factual data from comparable closed sales of other Eagle Idaho homes.

It’s important to realize that an appraisal is a subjective “opinion of value” based upon the appraiser’s interpretation of comparable sales data.

Appraisers are hired by the buyer’s lender to determine if your home’s value is adequate for the intended financing.

That appraised value is not necessarily market value.

4) What The Tax Assessor Thinks Your Home Is Worth

The tax assessor determines the assessed value of your home using entirely different methods than those used for lending appraisals.

Idaho assessed values are determined once a year using the assessor’s unique formula.

Idaho assessed values are often below market value in rising markets and above market value in declining markets.

5) What The Internet Thinks Your Home Is Worth

Various internet real estate portals calculate your home’s value using a computer algorithm and assessor’s tax data.

That process is an AVM (automated valuation method) that often generates inaccurate estimates of market value; especially in Idaho where assessor’s tax data can be up to a year old.

Those computers have no idea if your home is in model home condition, or if it’s a dump.

They also don’t know if your neighborhood is pristine, or full of neglected rentals with abandoned furniture sitting in driveways.

Those real estate portals are in the “lead” business; not the real estate business.

When visitors to those sites request more information about listings, they become “leads” and their contact information is sold to real estate agents willing to pay for those leads.

6) What Your Neighbor Wants Your Home To Be Worth

Your neighbor, Fred, thinks he knows everything about real estate and what your home is worth.

Fred has a vested interest in seeing your home sell for more than it’s worth because he thinks that will increase the value of his home.

Don’t be surprised if Fred thinks his home is worth even more than yours.

Finally, Fred probably isn’t a skilled, experienced Realtor^®who knows the true market value of your home.

Plainly stated, Fred doesn’t have a clue what he’s talking about in most instances.

Don’t listen to Fred when you’re preparing to sell your home.

(sorry Fred!)

7) What A Listing Agent Thinks Your Home Is Worth

Many listing agents will tell you what you want to hear to get your listing.

The problem with that concept is that your listing agent isn’t going to buy your home.

Your home is worth what a willing, qualified buyer will pay for it – period!

Don’t list your home with a listing agent who promises you an unrealistic asking price!

_______________________________________________________

Thinking of selling?

Ready for some no-BS straight talk vs. sales talk?

Give me a call at (208)938-5533 or e-mail me and let’s talk!

View All Eagle Idaho Homes For Sale

Eagle Idaho Community Information

Tour of Eagle Video

Eagle Country Lifestyle Video

Hidden Risks of Overpricing Your Eagle Idaho Home

February 11, 2019

Should you list with the agent who promises the highest price for your Eagle Idaho home?

In real estate, we call that practice “buying the listing”.

The problem with that tactic is that your listing agent isn’t the person who will be buying your home!

Some listing agents will use that tactic to “get the listing” at any price, then urge you to reduce your asking price when your home doesn’t sell.

If you fall for that trick, don’t be surprised when your listing agent asks you to reduce your price soon after listing your home with them.

Some listing agents even go so far as to include one, or more, pre-scheduled price reductions in their listing agreement after overpricing your home!

That’s especially brazen if the high asking price was their idea!

Before you list your home with the agent who promises an unrealistically high price, ask yourself:

Who will be willing to pay that price for my home? (certainly not your listing agent!)
What if my home doesn’t sell?
How will my home be viewed by buyers and agents when I have to reduce my price?
Is it a good idea to list my most valuable asset with an agent who’s willing to mislead me to get my listing?
How many additional showings will I have to endure until my home sells?

When you encounter a listing agent who’s recommending a higher price than other agents, ask for proof of the price they’re recommending.

Your listing agent should be willing to discuss the actual closed comparable sales used to determine the correct asking price.

The thrill of a high asking price will quickly disappear when no one looks at your home.

Listings are like fruit ~ they don’t get better with time!

Homes that linger on the market, or undergo multiple price reductions, rarely sell for top dollar.

Your best option is to list with an agent who’s truthful about the value of your home.

The last thing you should do is list your home with an agent who tells you what you want to hear!

Like to know what your home is really worth?